An Apple Store employee sells Apple's new iPad to a customer at the 5th Avenue Apple Store in New York.
By msnbc.com staff
The U.S. Justice Department sued Apple Wednesday over alleged electronic book price-fixing, according to a report on The Wall Street Journal?s website.
The lawsuit, filed in Manhattan federal court by the U.S. Department of Justice's Antitrust Division, alleges Apple and the publishers reached an agreement where retail price competition would cease, retail e-books prices would increase significantly and Apple would be guarantee a 30 percent ?commission? on each e-book sold, the Journal said.
The agreement between Apple and the publishers allegedly occurred ahead of the introduction of the iPad in 2010 and as Amazon.com had driven e-book pricing down to $9.99 for newly released and best-selling e-books, the Journal said, citing the details of the lawsuit.
A settlement involving some of the publishers is expected to be filed Wednesday, the newspaper said.
U.S. Attorney General Eric Holder is expected to discuss ?a significant antitrust matter? at a press conference later Wednesday, according to the report.
Collusion between managers of U.S. firms and other domestic or foreign firms, over pricing or other monopolistic actions, is expressly forbidden by the Sherman Antitrust Act of 1890, the cornerstone of U.S. antitrust policy, and can result in imprisonment, or substantial fines.
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Related:
Apple, publishers in DOJ crosshairs over e-book prices
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